Is branding important for your organization?

Is branding important for your organization?

Importance Of Branding 


A successful branding strategy can ensure an effective way to grow your business at an optimum cost than traditional marketing, like newspaper, Radio or television advertisements. branding is the marketing of your company’s products, logos and slogans to consumers to increase recognition of your business.

By building a recognized brand in your market, you reduce your reliance on traditional marketing, as branding increases loyalty and referrals from your customers. the concept of brand equity and the science and practice of building and managing brands strategically now have been with us for more than a quarter century. Taking stock, what are the most powerful and potential ideas that have emerged during that time?

1. Brands are assets with strategic value. In the late 1980s, the idea that a brand is an asset with equity began to get traction.
That concept has since transformed marketing, which had been dominated for a half century by the tactical view of marketing
developed in the halls of Procter & Gamble. Starting in the ’80s, marketing was managed by a CMO who had a seat at the executive table.
Marketing now was intimately involved in—if not a driver of—business strategy and was no longer relegated to being a tactical arm.
Marketing was now measured by brand equity in addition to short-term sales, and marketing resources were allocated to strategic brands and programs, rather than to the big silos rich with funds and political power.

Key Takeaways
Starting in the ’80s, marketing was managed by a CMO who had a seat at the executive table.
Marketing now was intimately involved in—if not a driver of—business strategy and was no longer relegated to being a tactical arm.

A brand vision for today should be multidimensional, allowing the brand to express itself in ways that work for that brand.

Growth, with some exceptions, only occurs by engaging in transformational or substantial innovation that creates “must haves” that define new subcategories. Brand teams thus need to nurture “big” innovations in offerings, services or programs.

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